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We justify risk neutral equilibrium bidding in commonly known fair division games with incompleteinformation by an …
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Classical economic theory assumes that people are rational and selfish, but behavioral experiments often point to inconsistent behavior, typically attributed to "other regarding preferences." The Ultimatum Game, used to study fairness, and the Trust Game, used to study trust and trustworthiness,...
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This paper studies the evolution of both characteristics of reciprocity - the willingness to reward friendly behavior and the willingness to punish hostile behavior. Firstly, preferences for rewarding as well as preferences for punishing can survive evolution provided individuals interact within...
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I study the speed of the evolutionary process on small heterogeneous graphs using the Hawk-Dove game. The graphs are based on empirical observation data of grooming interactions in 81 primate groups. Analytic results for the star graph have revealed that irregular graphs can slow down the...
Persistent link: https://www.econbiz.de/10009751379
We introduce a class of evolutionary game dynamics - pairwise comparison dynamics - under which revising agents choose a candidate strategy at random, switching to it with positive probability if and only if its payoff is higher than the agent’s current strategy. We prove that all such...
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